Why do some clients implement your sterling financial advice while others let recommendations gather dust in a drawer? The difference isn’t the quality of the advice; it’s the coaching approach.
Effective coaches get results. Coaches who study proven coaching techniques, practice them consistently, and actively seek feedback to improve transcend their conversation from mere noise (advice) to action and impact. Their clients chart a practical course for their company’s future and take action to execute the plan.
We have worked with hundreds of business coaches committed to their clients’ profitable growth. These ten qualities stand out in the most successful financial coaches:
1. They Lead with Questions, Not Answers
Effective coaches resist the urge to jump straight to advice. They understand that leading with solutions can overwhelm clients, diminish their confidence, and create unhealthy dependency. Instead, they recognize that the plan the client makes and owns has the greatest chance of implementation.
That said, successful coaches bring deep expertise to the table. They’re fluent in financial concepts, skilled at smart decision-making frameworks, and understand the drivers behind profitability and cash flow in their clients’ industry. This knowledge informs their questions. They don’t lead with the answers.
2. They See Clients as Capable and Whole
Great coaches don’t approach sessions with a “fixing” mindset. They view their clients as resourceful and capable of facing significant challenges. This fundamental belief shapes every interaction and empowers clients to find their own solutions.
3. They Practice Deep, Active Listening
These coaches aren’t simply waiting for their turn to speak. They listen to understand, reflect on what they hear, probe thoughtfully, and encourage clients to think more deeply. Instead of asking, “Why isn’t your profit improving?” they ask, “What are the most viable opportunities to improve profitability?” They dig beneath the numbers to understand what truly drives the client.
4. They Employ Powerful Curiosity
Successful coaches ask open-ended questions that encourage genuine reflection and move beyond surface-level answers. They rarely accept the first response as the final one. When a client says, “More sales would solve my profit problem,” effective coaches have a follow-up question that takes the conversation to the next level. They might ask, “Tell me more about that,” and then “What would be the first steps to making that happen?” This genuine curiosity unlocks deeper insights and more meaningful goals.
5. They Trust Their Instincts
When a conversation feels forced or superficial, effective coaches don’t push through. They trust their gut, try a different approach, or address the disconnect directly. This authenticity builds trust and often leads to breakthrough moments.
6. They Build Genuine Rapport Before Proceeding
Strong coaches never rush into the agenda. They acknowledge when a client is dealing with a difficult situation, address any tension in the room, and ensure they have permission to proceed with the coaching conversation. Without rapport, even the best coaching techniques fall flat.
7. They Champion Bigger Goals
Successful coaches are genuine advocates for their clients’ success. They hold out for more ambitious goals than clients initially set for themselves, challenge them to think bigger and provide support to achieve those expanded ambitions.
8. They Bring Structure to Sessions
Effective coaches don’t wing it. They use consistent structures in their coaching sessions that ensure both coach and client are prepared and positioned to make the most of their time together. This discipline creates space for deeper work.
9. They Create Crystal-Clear Accountability
At the end of every session, strong coaches ensure complete clarity on action steps and responsibilities. There’s no ambiguity about who’s doing what by when. Clarifying the call to action from every coaching engagement transforms insights into results.
10. They Invest in Their Own Development
The best coaches treat their own development with the same rigor they bring to their clients’ growth. They actively seek feedback, study new techniques, and continuously refine their practice. They understand that coaching excellence isn’t a destination, it’s a commitment to ongoing learning.
The Path Forward
Developing these qualities doesn’t happen overnight. Mastering effective coaching is a journey. It requires deliberate practice, structured frameworks, and continued professional development. Great financial coaches seek training to improve business and financial acumen , and guidance on how to guide others.
Developing these ten qualities improves your coaching impact while arming you with skills that are essential for a successful career as a business leader. Your dedication to your own continuous improvement shows in every conversation, every breakthrough, and every result, and yields lifelong benefits.
Resources for You
Level Up Your Financial Coaching
Join us for our special CFE workshop at IFA26 on Monday, February 23, 9-12 noon. This high-energy, interactive, and immersive live workshop includes training in both coaching skills and key financial decision-making tools. Gain invaluable professional skills and 3 CFE credits.
Financial Coaching Mastery: From Advice to Impact
Build confidence to lead meaningful financial conversations in the latest addition to our acclaimed Profit Soup Online Series. Discover personal coaching strengths and growth opportunities with realistic scenarios and proven approaches. Get practical financial coaching tools like Tips for Better Books, 99 Powerful Financial Coaching Questions, and Meeting Prep Checklists.